Valentine Property Holdings Limited Filleted accounts for Companies House (small and micro)

VALENTINE PROPERTY HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11968319

Valentine Property Holdings Limited

Filleted Unaudited Abridged Financial Statements

30 April 2020

Valentine Property Holdings Limited

Abridged Statement of Financial Position

30 April 2020

	30 Apr 20
Note	£	£

Fixed assets

Tangible assets	5		296,876

Current assets

Cash at bank and in hand	30,519

Creditors: amounts falling due within one year	119,563
	---------
Net current liabilities		89,044
		---------
Total assets less current liabilities		207,832

Creditors: amounts falling due after more than one year		199,273
		---------
Net assets		8,559
		---------

Capital and reserves

Called up share capital		1
Profit and loss account		8,558
		-------
Shareholders funds		8,559
		-------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the period ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the period in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

Valentine Property Holdings Limited

Abridged Statement of Financial Position (continued)

30 April 2020

These abridged financial statements were approved by the board of directors and authorised for issue on 2 February 2021 , and are signed on behalf of the board by:

LS Farrington
Director

Company registration number: 11968319

Valentine Property Holdings Limited

Notes to the Abridged Financial Statements

Period from 29 April 2019 to 30 April 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 234 Southchurch Road, Southend on sea, Essex, SS1 2EG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents and services rendered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 1 .

5. Tangible assets

	£
Cost
At 29 April 2019	–
Additions	296,876
	---------
At 30 April 2020	296,876
	---------
Depreciation
At 29 April 2019 and 30 April 2020	–
	---------
Carrying amount
At 30 April 2020	296,876
	---------

Tangible assets held at valuation

Freehold properties are valued at current open market value. In the opinion of the director, as the properties were purchased during the accounting period, there is no significant change in the value of the properties at the year end date.

6. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	30 Apr 20
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
LS Farrington	–	( 103,177)	( 103,177)
	----	---------	---------

7. Controlling party

The controlling party is LS Farrington in his capacity as director and sole shareholder.